Loews Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Loews Corp (NYSE:L) will unveil its latest earnings on Monday, October 31, 2011. Through its subsidiaries, Loews is involved in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, production of natural gas and liquids, operation of interstate natural gas pipeline, and operation of hotels.

Loews Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 51 cents per share, a rise of 920% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 73 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 61 cents during the last month. For the year, analysts are projecting profit of $2.85 per share, a decline of 6.6% from last year.

Past Earnings Performance: The company is hoping to beat estimates after missing the mark for two straight quarters. Last quarter, it reported net income of 59 cents per share against an estimate of profit of 75 cents per share. The quarter before that, it missed forecasts by 2 cents.

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A Look Back: In the second quarter, profit fell 31.1% to $252 million (62 cents a share) from $366 million (87 cents a share) the year earlier, missing analyst expectations. Revenue rose 1.6% to $3.54 billion from $3.49 billion.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of three consecutive quarters of revenue declines. Revenue fell 1.2% in the first quarter, 2.8% in the fourth quarter of the last fiscal year and 1% in the third quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 9% in the first quarter.

Competitors to Watch: CNA Financial Corporation (NYSE:CNA), The Chubb Corporation (NYSE:CB), The Travelers Companies, Inc. (NYSE:TRV), W.R. Berkley Corporation (NYSE:WRB), Markel Corporation (NYSE:MKL), American Financial Group (NYSE:AFG), American Intl. Group, Inc. (NYSE:AIG), Old Republic Intl. Corp. (NYSE:ORI), Cincinnati Financial Corp. (NASDAQ:CINF), and RLI Corp. (NYSE:RLI).

Stock Price Performance: During September 27, 2011 to October 25, 2011, the stock price had risen $3.24 (9.1%) from $35.51 to $38.75. The stock price saw one of its best stretches over the last year between January 4, 2011 and January 12, 2011 when shares rose for seven-straight days, rising 3.8% (+$1.49) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 6.9% (-$2.82) over that span. Shares are up 2 cents (+0.1%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.